Hamak Strategy Limited (LSE:HAMA) has announced initial reverse circulation drilling results from the Akoko oxide gold project in southwest Ghana, with the first four drill holes returning high-grade, shallow gold mineralisation. Highlights from the programme included intersections of 29.53 g/t gold over 4 metres and 3.15 g/t gold across 6 metres.
The company said the latest assay results support its geological interpretation of a deeply weathered oxide system containing broad, near-surface gold zones. The drilling forms part of a wider 72-hole, 4,125-metre campaign designed to convert a historical near-surface resource estimate of 252,000 ounces into a compliant mineral resource under current industry reporting standards. Management believes advancing the resource base could improve the project’s economic potential and help move Akoko closer toward development.
Hamak’s outlook continues to be shaped by weak financial fundamentals, including its pre-revenue status, recurring losses, ongoing cash burn, and increased leverage during 2025, all of which contribute to elevated funding risk. Technical indicators also remain under pressure, with the shares trading below key moving averages and showing a negative MACD signal. Valuation support remains limited given the company’s loss-making position, reflected in a negative price-to-earnings ratio and the absence of a dividend yield.
More About Hamak Gold Limited
Hamak Strategy Limited is a UK-listed company focused on gold exploration activities in West Africa, particularly in Ghana, while also pursuing a digital asset treasury management strategy. The company targets near-surface oxide gold deposits considered suitable for open-pit mining, combining exposure to traditional mineral exploration with interests in digital finance initiatives.
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